Payment of Interest on Overdue Term Deposit

Renewal of Overdue Term Deposit

  • Overdue Term Deposits are renewed on the date of presentation and not from the retrospective date.
  • The prevailing rate of interest will be applicable from the date of renewal of the FDR.

Interest on Overdue Domestic Term Deposit

  • If a Term Deposit (TD) matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to saving account or the contracted rate of interest on the matured TD, whichever is lower.
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